Steyr Motors (4X0) H2 2025 earnings summary

Executive summary

• Achieved 16.4% revenue growth in 2025 to EUR 48.5 million, driven by higher engine sales, product innovation, and international expansion.

• Developed modular M12 power unit, advanced APU, and next-gen engines, strengthening defense and marine market positions.

• Strategic acquisition of BUKH expanded marine and defense sectors, product range, and added a second European production site.

• Significant expansion into unmanned surface vehicles and mobile power generation as new growth drivers.

• Secured major agreements: Rheinmetall (battle tank), marine applications, Singapore JV, USV market entry, and a new 5-year distributor contract.

Financial highlights

• 2025 revenues increased 16.4% year-over-year to EUR 48.5 million (from EUR 41.7 million).

• EBIT was EUR 5.8 million; adjusted EBIT (excluding one-off M&A and AGM costs) was EUR 7 million, with a 14.5% margin.

• Proposed dividend of EUR 0.25 per share for 2025.

• Order backlog as of Dec 31, 2025, exceeded EUR 300 million, providing high sales visibility through 2030.

Outlook and guidance

• 2026 revenue projected at EUR 75–95 million, with EBIT margin of at least 15%.

• Growth driven by intensified sales in North America, Asia, MENA, mobile energy solutions, USV market expansion, and potential M&A.

• 2027 midterm outlook: revenue target of EUR 140 million and EBIT of EUR 40 million (nearly 30% margin).

• Additional unbudgeted opportunities of over EUR 500 million identified.

• Medium-term forecast for 2027 remains unchanged.